ATI potential stock takeover target?

Analysts claim that ATI is a potential target of a stock takeover. These rumours started in June when the company disclosed disappointing third quarter results after which its stock tanked from CAN$25 to approx. CAN$14.50.

ATI's stock saw a much-needed boost at the end of the week, fueling speculation that ATI is possibly being courted or even targeted for a hostile buy. The stock hovered around CAN$14.50 for most of the week, but after a dip Thursday to $14.00, the stock shot up to 15.77, up 8.6 percent for the entire week. It had reached a peak of $15.90, which is still a far cry from the $25 range enjoyed before June, when the stock started to tank. Shares hit their 52-week low on July 7, at $13.90.

It is rumoured that AMD, Broadcom, Intel and Texas Instruments are interested in taking over ATI. More speculation at Arstechnica